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TGREX vs. TSI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TGREX vs. TSI

Last updated Jun 25, 2026

TGREX (TCW Global Real Estate Fund) and TSI (TCW Strategic Income Fund Inc.) are both mutual funds - TGREX is a REIT fund managed by TCW, while TSI is a Multisector Bonds fund managed by TCW. Over the past 10 years, TGREX returned 6.56%/yr vs 5.03%/yr for TSI. At a 0.17 correlation, their price movements are largely independent.

Performance

TGREX vs. TSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Global Real Estate Fund (TGREX) and TCW Strategic Income Fund Inc. (TSI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TGREX achieves a 12.60% return, which is significantly higher than TSI's -6.74% return. Over the past 10 years, TGREX has outperformed TSI with an annualized return of 6.56%, while TSI has yielded a comparatively lower 5.03% annualized return.

TGREX

1D
0.44%
1M
2.03%
YTD
12.60%
6M
12.22%
1Y
13.22%
3Y*
11.25%
5Y*
1.88%
10Y*
6.56%

TSI

1D
-0.45%
1M
-0.49%
YTD
-6.74%
6M
-4.77%
1Y
-1.89%
3Y*
6.86%
5Y*
2.17%
10Y*
5.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TGREX vs. TSI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TGREX
TCW Global Real Estate Fund		12.60%7.69%1.94%11.29%-25.92%27.96%14.65%29.50%-11.22%11.06%
TSI
TCW Strategic Income Fund Inc.		-6.74%9.72%13.45%7.13%-14.33%8.08%3.77%17.97%-3.83%16.42%

Correlation

The correlation between TGREX and TSI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2015

0.17

Compare stocks, funds, or ETFs

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TCW Global Real Estate Fund

TCW Strategic Income Fund Inc.

Often compared with TGREX:
TGREX vs. TGHYXTGREX vs. TGCFXTGREX vs. TGDVXTGREX vs. TGGBXTGREX vs. TGEIXTGREX vs. TGVOXTGREX vs. TGWIX
Often compared with TSI:
TSI vs. SDIVTSI vs. TGDVXTSI vs. JMMTSI vs. HFSITSI vs. PGHYTSI vs. VZTSI vs. EVG

Return for Risk

TGREX vs. TSI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TGREX
TGREX Risk / Return Rank: 2020
Overall Rank
TGREX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
TGREX Sortino Ratio Rank: 1919
Sortino Ratio Rank
TGREX Omega Ratio Rank: 1818
Omega Ratio Rank
TGREX Calmar Ratio Rank: 2121
Calmar Ratio Rank
TGREX Martin Ratio Rank: 2121
Martin Ratio Rank
TSI
TSI Risk / Return Rank: 22
Overall Rank
TSI Sharpe Ratio Rank: 22
Sharpe Ratio Rank
TSI Sortino Ratio Rank: 22
Sortino Ratio Rank
TSI Omega Ratio Rank: 22
Omega Ratio Rank
TSI Calmar Ratio Rank: 22
Calmar Ratio Rank
TSI Martin Ratio Rank: 22
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TGREX vs. TSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Global Real Estate Fund (TGREX) and TCW Strategic Income Fund Inc. (TSI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

TGREXTSIDifference
Sharpe ratioReturn per unit of total volatility
1.05
-0.23

+1.28

Sortino ratioReturn per unit of downside risk
1.54
-0.25

+1.79

Omega ratioGain probability vs. loss probability

1.19

0.96

+0.22

Calmar ratioReturn relative to maximum drawdown

1.45

-0.23

+1.68

Martin ratioReturn relative to average drawdown

4.51

-0.52

+5.03

TGREX vs. TSI - Sharpe Ratio Comparison

The current TGREX Sharpe Ratio is 1.05, which is higher than the TSI Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of TGREX and TSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TGREX vs. TSI - Drawdown Comparison

The maximum TGREX drawdown since its inception was -37.78%, smaller than the maximum TSI drawdown of -60.35%. Use the drawdown chart below to compare losses from any high point for TGREX and TSI.

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Drawdown Indicators

TGREXTSIDifference

Max Drawdown

Largest peak-to-trough decline

-37.78%

-60.35%

+22.57%

Max Drawdown (1Y)

Largest decline over 1 year

-9.66%

-8.30%

-1.36%

Max Drawdown (3Y)

Largest decline over 3 years

-19.89%

-8.30%

-11.59%

Max Drawdown (5Y)

Largest decline over 5 years

-33.48%

-18.56%

-14.92%

Max Drawdown (10Y)

Largest decline over 10 years

-37.78%

-30.00%

-7.78%

Current Drawdown

Current decline from peak

-0.59%

-6.78%

+6.19%

Average Drawdown

Average peak-to-trough decline

-8.88%

-7.69%

-1.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

3.64%

-0.54%

Volatility

TGREX vs. TSI - Volatility Comparison

TCW Global Real Estate Fund (TGREX) has a higher volatility of 4.12% compared to TCW Strategic Income Fund Inc. (TSI) at 1.48%. This indicates that TGREX's price experiences larger fluctuations and is considered to be riskier than TSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TGREXTSIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.12%

1.48%

+2.64%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

7.29%

+2.92%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

8.38%

+5.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.09%

10.89%

+5.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.80%

14.03%

+2.77%

Dividends

TGREX vs. TSI - Dividend Comparison

TGREX's dividend yield for the trailing twelve months is around 2.72%, less than TSI's 9.19% yield.

PositionTTM20252024202320222021202020192018201720162015
TGREX
TCW Global Real Estate Fund		2.72%2.96%1.90%1.76%2.10%10.16%0.75%2.65%2.81%2.15%3.85%2.80%
TSI
TCW Strategic Income Fund Inc.		9.19%6.58%8.00%7.73%7.00%6.36%4.83%7.39%7.07%5.36%5.21%4.08%

Frequently Asked Questions

TGREX and TSI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TGREX has higher volatility (4.12%) compared to TSI (1.48%). In terms of maximum drawdown, TGREX dropped -37.78% vs TSI's -60.35%.

TGREX currently has the higher Sharpe Ratio (1.05 vs -0.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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